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Stale-Dated Checks: Should the Bank Pay Them or Not? What the Statute Says Bulk Filing Regulation CC Exception Hold Whether to Pay or Not? Some Possible Approaches When is an Old Check No Longer Good? Reasons for Returning Checks within the Midnight Deadline The Bulk Filing Issue Having a Valid Reason for Return Reasons Limited to the Midnight Deadline “Refer …
April 2007
March 2007
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March 1, 2007
March 2007 Legal Briefs
Stop Payment Orders on Checks – Questions and Answers No Means of Stopping Payment on Cashier’s Checks Examples: When a bank would like to avoid paying a cashier’s check Is a customer’s “defense” against the payee a reason for not paying a cashier’s check? When does a bank have its own defense to paying a cashier’s check
February 2007
January 2007
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January 1, 2007
January 2007 Legal Briefs
Recent Amendments to Health Savings Account Provisions HSA Contribution Amounts Reimbursing Medical Expenses Accumulating Tax-Advantaged Savings Full Deduction in First Year Transfer from IRA to HAS Index for 2006
December 2006
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December 1, 2006
December 2006 Legal Briefs
Defense Authorization Act – Restrictions on Loans to Service Members and Their Dependents Background What Transactions are Covered? “Interest” Limited to 36% All Fees are “Interest” New Definition of “APR” No Lender Access to Bank Account No Renewal of Debt No Mandatory Arbitration Non-complying Contracts Void Criminal Provision What Persons are Covered?
November 2006
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November 1, 2006
November 2005 Legal Briefs
Processing through Dallas Fed Affects Availability Schedule FDIC Guidance on Establishing a Bank Ethics Program Written Bank Policies Specific Provisions a. Safeguarding Customer Information b. Integrity of Bank Records c. Strong Internal Controls d. Speaking Candidly with Examiners e. Accepting Gifts and Favors f. Avoiding Self-Dealing g. Observing Other Laws h. Other Matters
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November 1, 2006
November 2006 Legal Briefs
Pension Reform: Useful Changes to IRA Provisions IRA Contribution Limits. Tax Refunds & Other Transfers to IRA’s. IRA’s of Guards & Reservists. IRA Distributions to Charities Understanding the Tax Advantages: 50% limit on charitable contributions doesn’t apply. Deductions and credits don’t phase out. Reducing RMD’s in future years. Rollover to “Inherited IRA” Easier Conversion to Roth IRA’s
October 2006
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October 1, 2006
October 2006 Legal Briefs
Cleanup Changes in 2006 to Mechanic’s Lien Provisions Background Obsolete Provisions What Services Are Covered Certificate of Title Property with Liens Change in Time Period Rental-Related Changes to Section 91 Revisions to Section 180 "Other Property” Mechanic’s Liens Section 91A vs. Section 197 Section 91A Notice Procedures Assistance in Researching Titles Property Removed without Permission; Release Obtained by Bad Check …
September 2006
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September 1, 2006
September 2006 Legal Briefs
Payroll Card Accounts & Regulation E Changes “Payroll Card Account” DHS Cards vs. Payroll Cards Is a Payroll Card Useful? Advantages to Consumers Employer Considerations Advantages for Banks Payroll Cards Not Mandatory? No Periodic Statements Consumers Who Don’t Want Statements Error Resolution Limits on Liability Modified Disclosures
August 2006
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August 1, 2006
August 2006 Legal Briefs
New Law Provides for Credit Report Freezes Legislative Background Security Freeze Request Authorizing a Temporary Release Is a “Freeze” a Good Idea? Assistance with Temporary Releases Assistance with Security Freezes Lender Exceptions to Security Freeze Other Exceptions to Security Freeze Excluded Entities Notice of Changes Security Freeze Notice Required Fines & Penalties